Indians switch to bank deposits as concerns grow over debt funds; Templeton's announcement sees heavy inflows into bank schemes
As spooked investors called for a government intervention and debt mutual funds saw record withdrawals, traditional bank deposits have gained.
SBI lowers MCLR-based lending rates by 10 bps across all one-year products; eighth consecutive interest reduction this fiscal
The new one-year MCLR has been cut to 7.90 percent from 8 percent.
SBI slashes deposit rates steeply, lowers lending rates marginally by 5 bps; to be effective from 10 November
SBI also revised its interest rates on term deposits on account of adequate liquidity in the system. The new deposit rates will also be effective from 10 November.
RBI surprisingly cut its key lending rate by 0.25% to 6.25 as it sought to up the sagging growth amid a slowdown in inflation at its 7 February policy
If you think RBI’s 35 bps surprise rate cut is big bonanza for common man, the joke is on you; here’s why
The banks have room for further reduction of at least 80 bps in their lending rates if these entities choose to pass on the full benefit of the RBI rate cuts to the end-borrower.
EPFO has enough surplus to hike interest rate to 8.65% for FY19; hope the Finance Ministry does not put roadblocks
The EPFO had provided a five-year low rate of interest of 8.55 percent to its subscribers for 2017-18
RBI likely to cut key rate by just 25 bps points; weakening economic growth, subdued inflation warrant larger reduction, opine analysts
The MPC could be reluctant to make a deeper cut in any case, as banks only reduced their lending rates by a token 5-10 basis points after the RBI’s last 25 bps cut in February.
Home loans, which have been the mainstay of banking in the last three years, would be affected by these two successive rate hikes and homeowners will be affected here
Planning to get a home or auto loan? You may soon end up paying more but there’s no reason for major worry
Banks are preparing to cushion their earnings by gradually increasing their lending rates in backdrop of hardening bond yields over past few months
PNB’s overnight MCLR has been revised the most i.e. by 15 basis points
The bank is offering highest rates of 6.90 per cent for one year to 455 days term deposits
Banks will be the biggest beneficiaries with deposits coming in large quantities leading to surplus liquidity in the system.
The government has announced a 25 basis points reduction in the interest rates of small savings
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 percent, while other banks including market leader SBI have indicated that they would follow suit.
Welcoming RBI's decision to cut rates, top lenders SBI and ICICI Bank today said the much-awaited lowering of lending and deposit rates would "definitely" take place now.
Banks are unlikely to reduce their base rates in the same fashion and quantum they have cut their deposit rates
India's largest lender State Bank of India (SBI) is revising interest rates on retail term deposits below Rs 1 crore with effect from September 18. While the bank has brought down its peak interest rate on domestic term deposits between one and three years to 8.75% from 9% earlier, it has revised upward by 25 basis points rates in deposits between six months to 210 days to 7.25%.<br />
SBI has cut the deposit rates for 1-3 years to 8.75 percent from 9 percent, while for the period of 180-210 days, it has hiked the rates to 7.25 percent from 7 percent.<br />
The banks also hiked its benchmark prime lending rate (BPLR) by a 10 basis point as well and the new BPLR now stands at 14.55 percent. The new rates will be effective from today.
IDBI Bank today announced that that it has reduced its term deposit rates for selective tenors.